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(Alliance News) - Apax Global Alpha Ltd on Wednesday said it has invested around EUR3.2 million in Petvisor on a look-through basis to support its research and development.
Apax Global is a Guernsey-based investor which backs technology, services, healthcare, internet and consumer-focused firms, and is a limited partner of Apax Global Impact Fund.
Petvisor is a veterinary and pet services business management and client engagement software platform.
Following the transaction, Apax Global said the additional funding will be used to help Petvisor accelerate its research and development investments towards product enhancements to customers.
This is alongside further supporting strategic acquisition opportunities to complement Petvisor's software platform.
"In an age of increasing pet owner demand and pet service provider staffing challenges, Petvisor's integrated suite of branded solutions empowers over 10,000 veterinary clinics with the tools they need to engage their customers, streamline their operations, and grow their businesses," Apax Global said.
Shares in Apax Global were down 0.3% to 161.52 pence each on Wednesday morning in London.
On Thursday last week, Apax Global said net asset value at September 30 was EUR2.59, up 16% from EUR2.24 at June 30. It reported a NAV total loss of 0.1% as a result of declines in private equity, but said performance from the debt portfolio helped offset this.
Last month, Apax Global acquired technology provider GAN Integrity Inc for an undisclosed fee.
Apax Global said the investment will enable GAN Integrity to accelerate product development and better serve the growing demands of global brands for risk, ethics and compliance management software technology.
By Greg Rosenvinge, Alliance News senior reporter
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